Kraft to keep Oscar Mayer based in Madison - WAOW - Newsline 9, Wausau News, Weather, Sports

Kraft to keep Oscar Mayer based in Madison

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MADISON (AP) -- Kraft Food's restructuring will keep Oscar Mayer based in Madison.

Kraft plans to cut 1,600 positions in North America and consolidate offices as it prepares to split its business into two independent companies.

Kraft says fewer than 15 people in Madison will lose their jobs.  Company spokesman Mike Mitchell says none of the job losses will affect Madison factory workers.

Jenn Post Tyler, from the economic development group Thrive, tells the State Journal that keeping Oscar Mayer in Madison is a vote of confidence that signals to other businesses and entrepreneurs.

Kraft announced last August that it would split into two companies -- a global snacks business and North American grocery business.

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